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CP Chem and QatarEnergy to build $8.5 billion petrochemical complex in Texas21 Nov 2022 / ChemCourier. Polyolefins Market Weekly / production

The Qatari state-run oil and gas company QatarEnergy and Chevron Phillips Chemical Company LLC (CP Chem), Chevron’s petrochemical joint venture with Phillips 66, have taken a positive final investment decision on the construction of an integrated petrochemical project in Orange, Texas, the USA. The complex worth $8.5 billion will include a 2.08 million-tpy ethane cracker and two 1 million-tpy HDPE units. It is QatarEnergy’s largest petrochemical investment ever. CP Chem owns a 51% equity share in the joint venture Golden Triangle Polymers Company LLC, with QatarEnergy holding 49%. The company was named after the Golden Triangle region of Texas that includes the city of Orange where Chevron Phillips Chemical and its predecessors have had presence since 1955.

The construction will start immediately after the final investment decision is made. The complex startup is scheduled for 2026. The facility is expected to create more than 500 full-time jobs and about 4,500 construction ones, also generating an estimated $50 billion for the community as a residual economic impact. HDPE plants will make CP Chem’s Marlex polyethylene used in the production of pipes for natural gas and water delivery, along with products such kayaks and coolers. The commodity manufactured at the plant will also be used in an array of plastic packaging applications.

Golden Triangle Polymers Company LLC is aiming to have 25% lower greenhouse gas emissions than similar projects across the United States and Europe as a part of the company’s strategy to enable smaller carbon footprint. CP Chem will engage in the engineering, procurement and construction for the project and operate the facility after the commissioning. The project will help expand Chevron Phillips Chemical’s and QatarEnergy’s product portfolios and meet growing global demand for HDPE. The companies have jointly been operating assets in Qatar safely and reliably for over 20 years now and are looking forward to further cooperation.

 

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SK picglobal to provide INEOS Styrolution with renewable SM in Asia8 Nov 2022 / ChemCourier. Styrene Weekly / production

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   SK picglobal, a joint venture between SKC and the Kuwaiti national petrochemical company PIC (Petrochemical Industries Company), is the leading global supplier of propylene oxide and its derivative propylene glycol, and INEOS Styrolution, the global leader in styrenics, signed a memorandum of understanding (MoU) on 7 November. The agreement gave INEOS Styrolution access to renewable styrene monomer output from SK picglobal’s POSM plant in Ulsan, South Korea.

   SK picglobal plans to obtain ISCC PLUS certification (the International Sustainability and Carbon Certification) in 2023. It will help the company produce and supply renewable SM to INEOS Styrolution under the MoU. ISCC certification supports the use of advanced recycling technology and bio-attributed feedstock for the manufacture of recycled polystyrene and other styrenic products.

   ‘This renewable SM will enable us to offer recyclable, sustainable products with the exact same quality and performance that customers have come to expect,’ Arndt Kotyczka, INEOS Styrolution Vice President, Global Styrene Monomer, said. The agreement with SK picglobal is an addition to INEOS Styrolution’s efforts to create a circular economy for both PS and ABS in Asia. INEOS Styrolution had its manufacturing sites in Channahon and Texas City, the United States, and Altamira, Mexico, ISCC Plus certified in December 2021 and those in Antwerp, Belgium, and Ludwigshafen, Germany, in January 2022.

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SP Group introduces new recyclable film7 Nov 2022 / ChemCourier. Polyolefins Market Weekly / company news

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SP Group, a specialist in flexible, rigid and vacuum packaging for thermoforming, rolled out its first recyclable and retortable two-layer film in autumn 2022. The highly puncture and mechanically resistant new product is destined for the mass market for foodstuff. The material can also undergo thermal processes such as sterilisation, which helps prolong food shelf life while preserving its properties and reducing food waste.

The company stated that this mono material solution had been created pursuant to the EU sustainable development directives, including Horizon 2030/2050 that stipulates that all the plastic packaging must be recyclable, reusable and compostable. So, upper HB Ecotop layer combined with lower RST ECO one is a fully recyclable solution because over 90% of its content is polypropylene and the rest does not interfere with recycling. It is ideal for the foodstuff exported to Germany as polypropylene is recycled most extensively in the country.

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News
Europe
2 Dec 2022The S&P Global Poland Manufacturing PMI increased from 42 in October 2022 to 43.4 in November 2022, exceeding market expectations of 42.9. Still, the reading indicates
2 Dec 2022EUROPE Delivery terms Unit 2 Dec 2022 25 Nov 2022 Change 4 Nov 2022 Change Jan 2023* FD EU contract (Nov) € / t 1650–1700 1650–1700 1690–1780 -60 ê 50
2 Dec 2022Regional demand slack Suppliers seek to export BD in December and January Regional market The BD market remains depressed in Europe. Demand is tepid in most of the
CIS
2 Dec 2022Russia (excl. VAT) Delivery terms Unit 2 Dec 2022 25 Nov 2022 Change 4 Nov 2022 Change Jan 2023* CPT Moscow (RU origin) K67 RUB/t 69167–71667 70000–75000
2 Dec 2022Ukraine (excl. VAT) Delivery terms Unit 2 Dec 2022 25 Nov 2022 Change 4 Nov 2022 Change Jan 2023* EXW Kalush (UA origin K67) UAH/t СРТ Kyiv (EU origin K67)
1 Dec 2022HDPE Ukraine, UAH / t (20% VAT inc.) Basis Product 1 Dec '22 Last week 3 Nov '22 Last month Jan '23* 1 Dec '22, $/t CPT Kyiv HDPE film (UA**) HDPE inj (ME**)
Americas
2 Dec 2022South Korean customers have purchased US origin PE from a trader this week. Injection HDPE, blow-moulding HDPE and C4-LLDPE have been sold at $960/t CIF Incheon, $940/t
2 Dec 2022South American customers have received offers of $1,000—1,050/t CFR WCSA for USA-origin injection, blow-moulding and film HDPE this week. Film LDPE and C4-LLDPE have
2 Dec 2022The US Manufacturing Purchasing Managers’ Index (PMI) slipped from 50.2 in October 2022 to 49 in November 2022, falling short of expectations of 49.8 points, for the
Asia
2 Dec 2022South Korean customers have purchased US origin PE from a trader this week. Injection HDPE, blow-moulding HDPE and C4-LLDPE have been sold at $960/t CIF Incheon, $940/t
2 Dec 2022A US trader has sold a large quantity of near-prime PE in Asia this week. Chinese and Vietnamese customers have purchased injection HDPE, film LDPE and C4-LLDPE at
2 Dec 2022The Vietnamese refinery operator Nghi Son Refinery and Petrochemical (NSRP) reduced the capacity utilization of its 400,000-tpy PP unit to 70% amid electrical issues in
Middle East
2 Dec 2022Turkey Delivery terms Unit 2 Dec 2022 25 Nov 2022 Change 4 Nov 2022 Change Jan 2023* CFR Turkey (US origin К65) $ / t 780–800 720–740 60 770–800 5 é 30
2 Dec 2022The company has released the following price list for the GCC states in December: Polymer grade Dec '22 $/t Nov '22 $/t Change Delivery terms Payment terms PP
2 Dec 2022The company has released the following price list for the GCC states in December: Polymer grade Dec '22 $/t Nov '22 $/t Change Delivery terms Payment terms
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